Towson, MD – The Board of Directors of the Chesapeake Employers’ Insurance Company is pleased to declare a $20 million corporate dividend to qualifying policyholders who have contributed to the company’s financial success. Ten million dollars a year will be paid out over two, consecutive years beginning with July 1, 2018 renewal quotes.
“Those who will receive a dividend are qualifying policyholders whose loss ratio proves they are committed to workplace safety, preventing injuries, and helping employees return to work,” said Chesapeake Employers’ President and CEO Tom Phelan. “More than 20,000 Maryland policyholders will receive a portion of the $10 million dividend for their 2017 performance. Their commitment to safety has contributed to our success, and we’re delighted to share our success with them. After all, keeping workers safe on the job and preventing accidents is worth rewarding.”
President and CEO Tom Phelan also released a video announcement.
Dividends are based on performance and are not guaranteed. The corporate dividend was approved by the Maryland Insurance Administration.